Remy Cointreau calls 10% '05 notes

New York, June 27 - Remy Cointreau S.A. (Ba2/BB) said that it is calling for redemption all €150 million of outstanding 10% senior notes due 2005.

The redemption will take place on July 30, at a redemption price of 102.5% of their principal amount, or €51,250 per note.

As previously announced, Remy Cointreau, a Paris-based producer and marketer of premium alcoholic beverages, was head by high yield syndicate sources to have sold an upsized €175 million issue of new 6 ½% senior notes due 2011 on June 18, with deal proceeds slated to fund the redemption of the existing 10% notes.

Deutsche Bank Trust Company Americas will serve as the New York Paying Agent for the redemption, while Deutsche Bank AG, Paris Branch will serve as the Paris Paying Agent, Deutsche Bank Luxembourg SA will be the Luxembourg Paying Agent, and Deutsche Bank AG London will be the Fiscal Agent for the offer.

Mohegan Authority extends consent period for 8 ¾% '09 notes tender offer

New York, June 27 - The Mohegan Tribal GamingAuthority (Ba3) said that it would extend the consent solicitation period of its previously announced tender offer and related consent solicitation for its 8¾% senior subordinated notes due 2009, after Mohegan filed an amendment to annual financial data previously filed with the Securities and Exchange Commission.

Mohegan said the consent deadline had been extended from 5 p.m. ET on June 30, to noon ET on July 2, subject to possible further extension. The previously announced July 17 expiration deadline and all other original terms of the offer are unchanged.

The Authority noted in its announcement that on June 27, it had it had filed with the SEC an amendment to its 10-K Annual Report for the fiscal year ended Sept. 30, 2002. The amendment amends and restates in their entirety Item 6. "Selected Financial Data" and Exhibit 12.1 "Computation of Ratio of Earnings to Fixed Charges" in the annual report filing.

As previously announced, Mohegan, an Indian tribe operator of the Mohegan Sun gaming resort in Uncasville, Conn., said on June 20 that it had begun a cash tender offer for any and all of its $300 million of outstanding 8¾% notes, and a related solicitation of noteholder consents to proposed indenture changes aimed at eliminating substantially all of the restrictive covenants in the indenture.

The authority initially set a consent deadline of 5 p.m. ET on June 30 (the consent period was subsequently extended), and said the tender offer would expire at 12 midnight ET on July 17, subject to possible extension.

Mohegan said that holders tendering their notes would be required to also consent to the proposed indenture amendments, and holders delivering consents would also have to tender their notes.

It said that assuming their notes are accepted for purchase, holders validly tendering their notes by the consent deadline would receive the total consideration of $1,077.50 per $1,000 principal amount of notes tendered, while holders validly tendering their notes after the consent deadline but prior to the offer expiration would receive consideration of $1,047.50 per $1,000 principal amount of notes (i.e., they would not receive the $30 per $1,000 principal amount consent payment). All tendering holders would receive accrued and unpaid interest up to, but not including, the payment date, in addition to their respective consideration.

The company said the tender offer would be subject to the satisfaction of certain conditions, including Mohegan's receipt of tenders of notes representing a majority of the outstanding principal amount, and the authority obtaining senior subordinated financing on acceptable terms in an amount sufficient to consummate the offer.

Banc of America Securities LLC (contact the High Yield Special Products group toll-free at 888-292-0070 or collect at 704-388-4813) and Citigroup Global Markets Inc. (contact the Liability Management group toll-free at 800- 558-3745 or collect at 212-723-6106) will act as dealer managers and solicitation agents in connection with the offer. Mellon Investor Services LLC (call 888- 867-6202) will be the information agent for the offer.

Newmont unit now holds 83% of 8 7/8% ' 08 notes, extends tender offer

New York, June 27 - Newmont Mining Corp. (Baa3) said that its Yandal Bond Co. Ltd. had received tenders totaling $196.8 million (or 83% of the outstanding amount, of the 8 7/8% senior notes due 2008 issued by another Newmont subsidiary, Newmont Yandal Operations Pty. Ltd., (Ca) under Yandal Bond Co.'s previously announced tender offer and related consent solicitation for all of the 8 7/8% notes not already owned by Yandal Bond Co.

Newmont said that Yandal Bond Co. will purchase all of the tendered notes, which (including the notes Yandal Bond Co. had already owned prior to the tender offer) will bring its total holdings of the notes to $259.6 million of the full principal amount of $300 million.

Yandal Bond Co. has given notice to the depositary for the tender offer that it has received valid tenders of notes and consents to proposed indenture amendments from holders of a majority in principal amount of the outstanding Notes not previously owned by Yandal Bond Co. Under the terms of the offer, those who tendered their notes no longer have withdrawal rights.

Issuer Newmont Yandal Operations has advised Yandal Bond Co. that Newmont Yandal and its subsidiaries that have guaranteed the notes will promptly meet with the indenture trustee to sign a supplemental indenture putting into effect the desired changes in the notes' indenture.

Newmont further said that to allow bond holders more time to assess these developments, Yandal Bond Co. has extended the consent payment deadline and the expiration of the note offer by five business days, to 5 p.m. ET on July 3, 2003, subject to possible further extension, from the original June 26 expiration deadline (to which the consent deadline had been previously extended as well).

As previously announced, Newmont, a Denver-based international gold mining company, said on May 27 that it planned to acquire the bonds of Newmont Yandal Operations - the former Great Central Mines Ltd., which Newmont acquired in February 2002 - and would also offer to acquire all of the gold hedge obligations owed by Yandal to counterparty banks.

Newmont said that it would acquire the bonds and the gold hedge obligations through another of its subsidiaries, Yandal Bond Company Ltd., which already owned $62.8 million in aggregate principal amount of the notes before the tender offer was announced.

Newmont said that Yandal Bond Co. would offer to acquire all of the $237.2 million principal amount of notes which it does not now own, plus accrued interest, for a cash payment of 50 cents per $1 of outstanding principal amount (which would include (including an early acceptance and consent fee). The aggregate offer price for those notes not already owned by Yandal Bond Co. would be approximately $118.6 million.

Newmont said that the offer would be subject to various conditions, including (among others) acceptance of the offer by a majority in outstanding principal amount of the $237.2 million of notes not currently owned by Yandal Bond Co., and there not being any acceleration of Yandal indebtedness or insolvency or similar proceeding instituted against Yandal.

The company said it also planned to seek the consent of its noteholders to certain indenture amendments.

On May 29, Newmont said that it had officially launched its previously announced tender offer for the 8 7/8% notes and related consent solicitation.

It initially established a consent deadline of 5 p.m. ET on June 12, by which time holders would have had to tender their bonds and consent to the proposed indenture amendments in order to receive a $20 per $1,000 principal amount consent payment as part of their total consideration. With the consent payment, total consideration would be $500 per $1,000 principal amount.

Newmont subsequently (on June 16) announced that it had extended the consent period so that it would coincide with the tender offer expiration deadline of 5 p.m. ET on June 26, subject to possible extension. The company said it had extended the consent period at the request of several noteholders, to allow for additional time to analyze the offer. It said that as of the original deadline, a total principal amount of $39.28 million of the notes had been tendered.

Citigroup Global Markets Inc. is the dealer manager for the offer (call 800-558-3745) . Mellon Investor Services LLC is the depositary and information agent for the tender offer and consent solicitation (banks and brokers call 917-320-6286; others call toll-free at 800-392-5792).

Azteca modifies terms of new notes in exchange for existing 10½% '03 and 10¾% '08 notes

New York, June 27 - Azteca Holdings, SA de CV said that it had amended the terms of its new senior amortizing notes that the company is offering in exchange for its outstanding 10 ½% senior secured notes due 2003 or its outstanding 10 ¾% senior secured amortizing notes due 2008.

Azteca Holdings has increased the annual interest rate payable on the new notes from 11 ½% to 12¼% and has changed the maturity date of the new notes from June 15, 2009 to June 15, 2008.

In addition, Azteca has amended the schedule upon which the new notes will be amortized. Each US$1,000 in principal amount of the new notes will now be amortized on the following schedule: June 15, 2005 US$250.00, June 15, 2006 US$250.00, June 15, 2007 US$250.00, June 15, 2008 US$250.00, (maturity date)

All other previously announced terms of the exchange offer remain unchanged.

As previously announced, Azteca, the Mexico City-based controlling shareholder of Spanish language television programmer TV Azteca, said on June 12 that it was beginning a new exchange offer for its 10½% notes.

It said the offer would also cover the 10¾% notes that had been issued in a previous exchange for the 10½% notes, which had been completed on May 16.

The company said it would offer new 11½% senior amortizing notes due 2009 (the interest rate and maturity of the new notes was subsequently modified).

The exchange expires on July 11. Azteca Holdings in May issued $80.082 million of new 10 ½% notes in exchange for an equal amount of the old 10 ½% notes. The transaction left $69.918 million of the 10 ¾% notes still outstanding.

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